Oracle 1Z0-1055-23 real exam prep : Oracle Financials Cloud: Payables 2023 Implementation Professional

  • Exam Code: 1Z0-1055-23
  • Exam Name: Oracle Financials Cloud: Payables 2023 Implementation Professional
  • Updated: Sep 15, 2026
  • Q&As: 143 Questions and Answers

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Oracle 1Z0-1055-23 Exam Syllabus Topics:

SectionWeightObjectives
Reporting, Integration, and Maintenance20%- Integration and Maintenance
  • 1. Perform period-end close and maintenance activities
    • 2. Integrate with other Oracle Cloud modules
      - Reporting and Analytics
      • 1. Run standard payables reports and create custom reports
        • 2. Use Business Intelligence and reporting tools
          Payments and Disbursements25%- Reconciliation and Accounting
          • 1. Reconcile payables to general ledger
            • 2. Account for payments, discounts, and foreign currency transactions
              - Payment Processing
              • 1. Create, approve, and issue payments
                • 2. Manage payment batches and bank accounts
                  Payables Configuration and Setup30%- Configure Payables System Options
                  • 1. Set up payment terms, payment methods, and payment formats
                    • 2. Define tax configurations and withholding tax rules
                      - Configure Enterprise Structures
                      • 1. Set up business units, legal entities, and ledgers
                        • 2. Define supplier master data and supplier sites
                          Invoice Processing and Management25%- Prepayments and Expense Invoices
                          • 1. Apply and account for prepayments
                            • 2. Process employee expense reports and invoices
                              - Invoice Entry and Validation
                              • 1. Validate invoices, resolve holds, and perform matching
                                • 2. Enter standard invoices, credit memos, and debit memos

                                  Oracle Financials Cloud: Payables 2023 Implementation Professional Sample Questions:

                                  Question #1

                                  Your intercompany transaction type is active and enabled for invoicing. What are the two prerequisites to generate intercompany receivables and intercompany payable transactions after the Generate Intercompany Allocations process is run?

                                  • A. Run the processes Transfer Intercompany transactions to Receivables and Transfer Intercompany transactions to Payables.
                                  • B. Manual Approvals should be allowed for the transaction type.
                                  • C. Supplier site primary pay flag and customer account bill to primary flag should be enabled.
                                  • D. Run the processes Create Intercompany transactions to Receivables and Create Intercompany transactions to Payables.
                                  • E. Schedule create accounting for the intercompany process.
                                  • F. For the Legal Jurisdiction, Legal function: "Generate intercompany invoice" should be assigned.
                                  Reveal Solution  Discussion  0

                                  Correct Answer: D,E  🗳️

                                  Question #2

                                  A company makes the payment in a currency different from the invoice and ledger currency. What setup options are required to make the cross currency rate type the default?

                                  • A. Manage Invoice Options and Manage common options for Payables and Procurement
                                  • B. Manage common options for Payables and Procurement and Manage Procurement agents
                                  • C. Manage Invoice Options and Manage Procurement agents
                                  • D. Manage Payment Options and Manage common options for Payables and Procurement
                                  • E. Manage Payable Options and Manage Invoice Options
                                  Reveal Solution  Discussion  0

                                  Correct Answer: E  🗳️

                                  Explanation: Only visible for Prep4away members. You can sign-up / login (it's free).

                                  Question #3

                                  You need to have your invoice line automatically distributed across multiple cost centers. For example, you want your monthly utility bill allocated across multiple cost centers based on a percentage.
                                  Which two are valid methods to achieve this?

                                  • A. Define a payment term and assign it to the invoice.
                                  • B. Define a distribution set and assign it manually to the invoice.
                                  • C. Define a distribution set and assign it to the supplier.
                                  • D. Choose the ,All Lines, option from the Allocate menu in the invoice line area.
                                  Reveal Solution  Discussion  0

                                  Correct Answer: A,C  🗳️

                                  Question #4

                                  A company is centralizing their payment processing using the service provider model.
                                  Which reporting level has to be used to run the Prepare Payables to General Ledger Reconciliation report?

                                  • A. Run the Prepare Payables to General Ledger Reconciliation report at Ledger level.
                                  • B. Running the Prepare Payables to General Ledger Reconciliation report is NOT available when there is a centralized payment processing.
                                  • C. Run the Prepare Payables to General Ledger Reconciliation report for combination of Ledger and Balancing Segment Value.
                                  • D. Run the Prepare Payables to General Ledger Reconciliation report at Business Unit level.
                                  Reveal Solution  Discussion  0

                                  Correct Answer: B  🗳️

                                  Explanation: Only visible for Prep4away members. You can sign-up / login (it's free).

                                  Question #5

                                  Which three are Invoice Header attributes that can be used during invoice approval rule creation? (Choose three.)

                                  • A. Pay Group Lookup Code
                                  • B. Statistical Amount
                                  • C. Business Unit Name
                                  • D. Accounting Date
                                  • E. Requester Name
                                  Reveal Solution  Discussion  0

                                  Correct Answer: A,C,E  🗳️

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